Financial Topics to Discuss with Your Partner

Finding someone to spend your life with is a wonderful thing. As you merge your lives, you’ll also naturally start sharing the costs of living. That’s why it’s important to ask your partner questions – even uncomfortable ones – about money so you can plan your financial future together with confidence.

How do you start talking about finances with your partner? We’ve gathered some conversation starters to help set your household up for financial success.

8 money topics for couples to discuss

The best way to talk to your partner about money is to be open and honest. Here are some financial topics to get you started:

• Salaries
  Salaries are often a taboo subject. But since they form the basis of your financial life, they’re an important topic to discuss. They’re also a great icebreaker for additional money conversations down the road. If you and your partner haven’t talked about your respective incomes yet, now’s the perfect time to do it.

• Bank accounts
  Another money topic for discussion? Joint or separate bank accounts. Many couples in long-term relationships merge their accounts. But how you arrange yours is totally up to you. Perhaps you’d each like your own checking or savings account. There’s only one way to figure it out, and that’s to talk about it.

• Debt
  On the list of financial questions to ask your partner, debt can be an awkward one, especially if one of you has more of it than the other. But since you’ll be merging finances – including debt – it’s imperative that each of you be transparent about it. Then you can start making plans to tackle it.

• Credit
  When you merge your finances, you’re also merging your borrowing power: your credit. Like debt, credit can be an awkward discussion topic, especially if one of your scores could use improvement. But things like mortgages and car loans depend on the strength of your credit, so it’s an essential financial planning topic to cover with your partner.

• Savings
  A healthy savings account can put you in a great financial place, so ask your partner about their savings – and talk about yours. Do you have savings? Does your partner? How much do you have combined? And what kind of saver are each of you? These are all significant financial questions, so put your cards, and your savings information, on the table.

• Expenses
  You might know about your joint expenses as a couple – things like rent, utilities and groceries. But what about personal expenses? Ask your partner about things they pay for on a daily, weekly and monthly basis. Gym memberships, commuting expenses and workday lunches and coffee add up so it’s important to tally them up and incorporate them into your household budget.

• Budgeting style
  Speaking of budget, your partner’s budgeting style is another great money topic to cover. They might have great tactics you can adopt as a couple. You won’t know unless you talk about it. So put it on your list of financial topics to discuss.

Financial questions to ask your partner

Financial planning discussions start with good questions. Here are some additional conversation starters to get you and your partner talking about money:

• What were finances like in your home growing up?
• How did your parents handle money?
• Should we combine our money or keep it separate?
• How should we handle bill paying?
• What’s your outstanding debt?
• What’s your credit score?
• How do you save money?
• How much do you have saved?
• How much do you want to spend on a wedding?
• Do you want children? If so, how many?
• Do you want to own a home someday?
• What are your financial goals?
• How are you saving for retirement?
• When would you like to retire?

Partners in life – and finances

Building a life together as a couple is exciting. And while talking about finances can feel awkward at first, it’s an essential part of a joint household – and a joint future. Once you get started, you’ll find it gets easier and easier. The first step is a single question.